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Dec 28, 2012
12/12
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>> no, it doesn't raise taxes. those tax increases will go into effect. there's no bill before the congress that raises taxes. there are many bills that are trying to stop those taxes in various forms. and let me be clear. i think the president's plan is an absolute disaster. a lot of those wealthy folks earning over $200,000 aren't even folks. they're small businesses, filing under sub-chapter "s," some 84% of net business income is affected by this tax increase. that's the income they use to create and expand two-thirds of the jobs in our economy. that is an absolutely insane economic policy, but that's at the core of what the president is trying to do. the cbo is warning us, $200,000 jobs will be destroyed by this policy. but if we can't stop it, the best we can do is offer every warning we can, and then try and save as many other taxpayers as possible. >> do you think the white house should add a little sweetener to the deal for some conservatives? for example, stalling the sequestration cuts and extending the current estate tax rates? >> oh, i don't
>> no, it doesn't raise taxes. those tax increases will go into effect. there's no bill before the congress that raises taxes. there are many bills that are trying to stop those taxes in various forms. and let me be clear. i think the president's plan is an absolute disaster. a lot of those wealthy folks earning over $200,000 aren't even folks. they're small businesses, filing under sub-chapter "s," some 84% of net business income is affected by this tax increase. that's the...
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Dec 30, 2012
12/12
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the alternative minimum tax. a lot of money that they're scrambling to find as they also deal with the tax issues. so it's really going to depend on what those numbers look like and boehner doesn't entirely have a sense until he has a senate proposal to try to sell to his house side. >> i just want to remind our viewers, we will join fareed zakaria, "gps" in progress as we watch the senate floor and the senate in general. for any signs of progress. there used to be the hastert rule, a majority of the majority, most republicans, in this case they're at majority, must support a bill before denny hastert would put it on the house floor. i don't get a sense that's where speaker boehner is. >> you could imagine a scenario where the house could pass an agreement that's reached in the senate, with a minority of republicans and dozens of democrats make up the difference. that would essentially be john boehner falling on his sword, diving on the grenade and giving up his speakership. you know, democrats might say this wou
the alternative minimum tax. a lot of money that they're scrambling to find as they also deal with the tax issues. so it's really going to depend on what those numbers look like and boehner doesn't entirely have a sense until he has a senate proposal to try to sell to his house side. >> i just want to remind our viewers, we will join fareed zakaria, "gps" in progress as we watch the senate floor and the senate in general. for any signs of progress. there used to be the hastert...
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Dec 29, 2012
12/12
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LINKTV
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and, instead of voting for a tax increase, they are voting for a tax cut. the same policy, when you are voting for it on january 4, would be a tax cut. today, it would be a tax increase. it is a weird way of thinking about it, but we are a strange land, in terms of u.s. policy right now. heather is a sense the entire dynamic would change if we get a few days into the new year without a deal. the white house feel they have gone close to as far as they can go in terms of an offer. the have adjusted their proposal on tax increases so they would only go up on those making $400,000 a year, not $250,000 a year. they want real concessions out of the republicans before the agreed to everything. they do not want to negotiate against themselves and throw in the towel when they do not need to. >> what does it mean for the world economy if the u.s. does fall off this fiscal cliff, even if only for a few days? >> if we have learned anything the last few years, it is how connected this economy is. the european crisis has the image of the world economy. the sub from price
and, instead of voting for a tax increase, they are voting for a tax cut. the same policy, when you are voting for it on january 4, would be a tax cut. today, it would be a tax increase. it is a weird way of thinking about it, but we are a strange land, in terms of u.s. policy right now. heather is a sense the entire dynamic would change if we get a few days into the new year without a deal. the white house feel they have gone close to as far as they can go in terms of an offer. the have...
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Dec 30, 2012
12/12
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tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the civil war. the opizatiposition says more t 200 killed following a battle. >>> new england is getting a heavy dose of snow and freezing temperatures. boston is expected to get up to eight inches and the city's mayor has declared a snow emergency. neighboring rhode island is also getting pounded over a foot of snow has already fallen in some parts of that state. >>> some good news this morning about former president george h.w. bush. we're told he is improving and has been moved out of the intensive care unit of the houston hospital where he was being treated for an elevated fever. the 41st president has been in the hospital for more than a month now. >>> those are your headlines. "reliable sources" is at the top of the hour. now, back to fareed zakaria "gps." >>> it was one of the most important d
tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the civil war. the opizatiposition says more t 200 killed following a battle. >>> new england is getting a heavy dose of snow and freezing temperatures. boston is expected to get up to eight...
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Dec 30, 2012
12/12
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this the bad guy because of the tax worse than we do. >> and ironically it is our space weaponry at this point* that devolves into the electronic space shield with a triple canopy by 2020 we could become a fascist force in the universe is like the "star wars" room stage moment to follow our conscience? were the base instinct? >> thank you. >> jake tapper third book "the outpost" talks about one of america's deadliest battles. [applause] benjamin busch an actor, a photographer film director and u.s. marine corps infantry officer serving two combat tours his book talks about his marine training and deployment during a the worst of the of war. benjamin busch. [applause] brian castner three tours of duty in the middle east from the ordnance disposal unit in iraq when he returned to life and family he said he began to struggle with an unshakable feeling. "the long walk" shows the toll that war takes. brian castner. [applause] >> enjoy men. >> it is a real honor to be here i want to think they're ready involved especially middle is a true honor to be on a panel with two veterans to serve as th
this the bad guy because of the tax worse than we do. >> and ironically it is our space weaponry at this point* that devolves into the electronic space shield with a triple canopy by 2020 we could become a fascist force in the universe is like the "star wars" room stage moment to follow our conscience? were the base instinct? >> thank you. >> jake tapper third book "the outpost" talks about one of america's deadliest battles. [applause] benjamin busch an...
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Dec 24, 2012
12/12
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he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which he did openly and said he was ready to do it. there were conservatives who would not do it. that is not a figure of the party that will be extremely hard to reconcile. if you can not, how you get a deal done before january 1? >> that is essentially the problem the president faced with boehner two years ago. last year. can he deliver? how can you negotiate with someone who cannot deliver on his side? >> you go to people for support, at least three of whom have lost their committee assignments. how can you expect them to come over to your way of thinking? >> they were crowing when john boehner went down, taking some delight, but that was pre- cleared by the leadership. the leadership was with him. this is not a question of -- quite bluntly, leaving and losing their virginity on the issue of tax cuts. it is an important thing for these republicans who have not voted. no republican in
he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which he did openly and said he was ready to do it. there were conservatives who would not do it. that is not a figure of the party that will be extremely hard to reconcile. if you can not, how you get a deal done before january 1? >> that is essentially the problem the president faced with boehner two years ago. last year....
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Dec 27, 2012
12/12
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in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts and new taxes will push the economy back into a mild recession by mid 2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1. that's because the irs and other agencies didn't expect it to come to this. so it could be a few weeks before workers see more money being withheld in their paychecks. cbs news in hawaii. >>> former president george h.w. bush is in intensive care at a hospital in houston. a fever that kept mr. bush in the hospital over christmas has apparently gotten worse. doctors have him on a liquid- only diet. a bush family spokesperson says t
in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts...
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Dec 25, 2012
12/12
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in 1937, but the property had issued a two state in 1937 because the landlord hadn't been paying his taxes. the state hadn't come in and taken possession, but that landlord had no right to their rent from 1937 although he threw and they were forced out in 1942. bill and cleveland injures his back at the factory returns to the west coast with mary and little billy and besides to reopen his garage in hollywood. his father-in-law more or less tinkers. he creates a maker that gets installed in a store in los angeles, a matter returned to productive economic life. what about little billy? billy is now 72, lives in anaheim. he became the recreational parachutist. more than 1100 free falls in his career until he finally stopped because of injury. anyway to work in the aviation industry. [laughter] he designed exit systems for airplanes and ultimately win in two operations for several major aviation centers. these photographs, these colors by, not prince, but slide that boxed up in villa manbo's closet for decades, which is why they look so great. kodachrome has enormous staying power if they are
in 1937, but the property had issued a two state in 1937 because the landlord hadn't been paying his taxes. the state hadn't come in and taken possession, but that landlord had no right to their rent from 1937 although he threw and they were forced out in 1942. bill and cleveland injures his back at the factory returns to the west coast with mary and little billy and besides to reopen his garage in hollywood. his father-in-law more or less tinkers. he creates a maker that gets installed in a...
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Dec 24, 2012
12/12
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>> you can treat it that way for the responsible adults, yes and tax it. wouldn't it be better to have these huge amounts of money go to pay the firefighters and teachers fix our roads instead of funding of the juvenile gangs and the mexican drug cartels? it is an easy question to answer. >> to of the people you dedicate this to our job shultz and the elite william f. buckley. i'm proud to be, and in fact you can go on to say this is endorsed by milton friedman has a hero of mine, and also of course walter cronkite who is a hero in a lot of other ways and george shultz, like to say, the former secretary of state for ronald reagan, no-man's liberal but you get those folks together to agree on anything and it's pretty impressive. >> you also have another book out and this is another new one? what is this one? >> it is a handbook of solutions to america's problems and there really are resolutions to these problems. and honestly i wrote this without having any intentions or thoughts of being involved in another political campaign. but it talks about health car
>> you can treat it that way for the responsible adults, yes and tax it. wouldn't it be better to have these huge amounts of money go to pay the firefighters and teachers fix our roads instead of funding of the juvenile gangs and the mexican drug cartels? it is an easy question to answer. >> to of the people you dedicate this to our job shultz and the elite william f. buckley. i'm proud to be, and in fact you can go on to say this is endorsed by milton friedman has a hero of mine,...
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Dec 27, 2012
12/12
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hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the republicans would let it go much higher. >> you look at it. i don't think washington guess what this does. look at the effective rate. right now if i pay $1 as a public or private company and pay $1 a earnings as interest, it's taxed 18% higher effectively. >> right. >> so what does that do? that creates something called a debt bias. debt bias is bad for our economy. right now we have three things, too many debt in our economy, not enough job creation and need more income for retirees. tacking dividends is going to make all of those situations worse. >> to pare thi
hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the...
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Dec 29, 2012
12/12
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our guest is joseph rosenberg with the tax policy center, followed by a discussion on
our guest is joseph rosenberg with the tax policy center, followed by a discussion on
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Dec 31, 2012
12/12
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has an incomes tax liability. you oval don't want to see our -- you obviously don't want to see our defense have to deal with what would be deep, deep cuts in our national security budget. those are two things that will happen tomorrow unless congress can act to prevent that. and so count me among those who wants to be, see a solution. i certainly hope that the negotiations that are occurring right now can conclude in a way that will give us an outcome, that prevents those tax rates from increasing on americans across this country and also put in place some things that would actually deal with the real problem. and the real problem, mr. president, is that our country spends too much. and we are where we are today because we haven't done our work when we should have previously. if you think about the fact that for three consecutive years -- three years in a row -- in the united states senate we haven't passed a budget. we spent $3.5 trillion of american taxpayer money every single year and for three consecutive yea
has an incomes tax liability. you oval don't want to see our -- you obviously don't want to see our defense have to deal with what would be deep, deep cuts in our national security budget. those are two things that will happen tomorrow unless congress can act to prevent that. and so count me among those who wants to be, see a solution. i certainly hope that the negotiations that are occurring right now can conclude in a way that will give us an outcome, that prevents those tax rates from...
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Dec 28, 2012
12/12
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>> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over the fiscal cliff and even if we don't go over the cliff, and they come up with a bandaid, you risk losing more federal aid down the road, don't you? >> no question about you. we're a rural state. montana is the size of pefl r. -- pennsylvania, new york. there are federal dollars that pay for maintaining those highways. you can't have a million people pay for all those highways because it connects the entire country. you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> wha
>> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over...
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Dec 27, 2012
12/12
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nobody wants the taxes on the 98% of the american people to go up. i think we can act quickly to take care of that. >> to me it makes like there is no way there will be a deal done unless there 230 tom coles. >> it's funny that you see tom cole saying i want to come back to washington, d.c. tomorrow because i think boehner -- tom said absolutely not. they are this close to the deadline, there is no real idea of what's happening. these are our elected leaders. >> the video clip you may want to play tomorrow is kick the can down the road from republicans and democrats and the house and senate. it's the phrase du jour to that conveys no action. it's a sad state and here we are. >> congressman cole is wrong in saying nobody wants to see middle class taxes go up. nobody wants to see themselves getting blamed. that's the real dynamic. nobody is attached to the taxes in d.c. we'll be back with our l in a bit. now trivia question. the answer, maryland junior senator ben cardin. he spent 20 terms in the house before becoming a senator. that's a good chunk of
nobody wants the taxes on the 98% of the american people to go up. i think we can act quickly to take care of that. >> to me it makes like there is no way there will be a deal done unless there 230 tom coles. >> it's funny that you see tom cole saying i want to come back to washington, d.c. tomorrow because i think boehner -- tom said absolutely not. they are this close to the deadline, there is no real idea of what's happening. these are our elected leaders. >> the video clip...
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Dec 28, 2012
12/12
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just for argument sake if we only look at the tax issue, if we give the president all of the tax rate increases he wants, we are still looking at trillion dollar deficits every year. and the reality is that the house has already sent would measures on to the senate. one addressed the continuing bush era tax rates and the other that would erase the military spending. those are in the hands of the senate. they can act on those right now. we can put this thing to rest. we will wait and see what happens in this meeting and hopefully we will come to some kind of agreement to avoid this cliff. >> what do you think the best thing to come out of this meeting? >> i think that speaker boehner and the president walk out and be able to announce they have a team in next three days that will have an outline in which -- alice just mentioned the details will be hammered out in the first would weeks in january. we have that amount of time to stop the fiscal cliff. if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff
just for argument sake if we only look at the tax issue, if we give the president all of the tax rate increases he wants, we are still looking at trillion dollar deficits every year. and the reality is that the house has already sent would measures on to the senate. one addressed the continuing bush era tax rates and the other that would erase the military spending. those are in the hands of the senate. they can act on those right now. we can put this thing to rest. we will wait and see what...
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Dec 28, 2012
12/12
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but i do know that the tax rates are going to expire. one of my favorite analogies and everyone said it's like 100 people are drowning and you are going to save 98 of them by only protecting them from a tax increase, 98%. and and my question is they are all drowning, right? which means raising taxes is a bad thing for everyone. why would we not save two? we would drowning be our policy? who would be in favor of a policy of drowning, raising taxes? sounds like it's a bad thing for everyone, why are they so in sis ten we raise tacks on someone? >> do you get the idea there's a discussion going on in the senate. i turn on the tv and different senators are taking to the floor and he they are speaking 209 other senators that might be there or the american people but what about in the halls of the u.s. senate? are people talk and negotiating, trying to work on solutions? >> the way it's been set up is for a few people in leadership, and i always joke i have to ask people in the media what's going on with the fiscal cliff thing because we don't
but i do know that the tax rates are going to expire. one of my favorite analogies and everyone said it's like 100 people are drowning and you are going to save 98 of them by only protecting them from a tax increase, 98%. and and my question is they are all drowning, right? which means raising taxes is a bad thing for everyone. why would we not save two? we would drowning be our policy? who would be in favor of a policy of drowning, raising taxes? sounds like it's a bad thing for everyone, why...
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Dec 27, 2012
12/12
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all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. this basket of problems is what washington calls the fiscal cliff. you've been hearing for months now about the cliff crisis. you've heard a lot about whether or not it will matter, you've heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the game area, you're going to be reading about the cliff whether you like it or not. we at starbucks have an opportunity and i believe a responsibility to use our company's scale for good, by sending a respectful and optimistic message to our officials to come together and reach important ground. this week, through december 28th, partners at our washington, d.c., area store
all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. this basket of problems is what washington calls the fiscal cliff. you've been hearing for months now about the cliff crisis. you've...
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Dec 28, 2012
12/12
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steep cuts and tax hikes impacting from everything from your paycheck to the defense budget could take effect. >>> norman schwarzkopf has died. the retired general died from complications of pneumonia. he was best nope for leading international forces in iraq in 19916789 he was 78. >>> former president george h. w. bush remains in intensive care at a texas hospital this morning. his chief of staff says bush is getting excellent medical care but expects nobody the hospital for a while. he is battling bronchitis and other complications from it. the 88-year-old was admitted to the hospital more than a month ago. >>> three people were killed when a tractor-trailer that was stopped in traffic was rear ended by a pickup. all of the victims were in the pickup. this happened about 7:00 last night and traffic was still moving slowly in the area late last night. in other news, hundreds of teachers in utah taking a gun training course in the wake of shooting tragedy in newtown, connecticut. >> the idea of arming teachers is he lifting both support and op indication. we have a report. >> reporter:
steep cuts and tax hikes impacting from everything from your paycheck to the defense budget could take effect. >>> norman schwarzkopf has died. the retired general died from complications of pneumonia. he was best nope for leading international forces in iraq in 19916789 he was 78. >>> former president george h. w. bush remains in intensive care at a texas hospital this morning. his chief of staff says bush is getting excellent medical care but expects nobody the hospital for...
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Dec 25, 2012
12/12
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. >> what's the minimum tax again? >> the minimum tax, i would guess, would be 30% on income above a million, 35% above $10 million. and all kinds of people who are making that money, by labor, they're already paying those rates. >> would that also include people -- >> it would hit me. >> it would hit you. >> it would hit me. >> so you would not be paying 13, 14, 15% because of capital gains? >> no. >> i don't understand this, i'm making pretty good, but not warren buffett money. and of course, i'm paying my full 35%. he said, you have to figure out to convert this to capital gains, because if you do that, you only have to pay 15%. i said, what? i don't have the accountants to figure that out. >> governor romney paid 14%, i paid 15, 16, we would be paying 35%. >> you refer to, even as a youth, investing as a game. >> it is a game. >> great game. well, they're playing a dangerous game with investing in washington, in the congress. so my question to you is, if the united states congress, specifically the house of represe
. >> what's the minimum tax again? >> the minimum tax, i would guess, would be 30% on income above a million, 35% above $10 million. and all kinds of people who are making that money, by labor, they're already paying those rates. >> would that also include people -- >> it would hit me. >> it would hit you. >> it would hit me. >> so you would not be paying 13, 14, 15% because of capital gains? >> no. >> i don't understand this, i'm making...
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Dec 26, 2012
12/12
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because of the tax increase. i thought it was going to wreck the economy. it didn't wreck the economy. in '95 and '96, a lot of tough decisions by republicans, a lot of cuts that weren't popular with democrats as well as welfare reform. we heard all the horror stories. but you look at the tough decisions you guys made in '93 and '94, the tough decisions that we made sometimes that you agreed with and sometimes you didn't. taken together, those were three or four pretty dramatic years of political leaders stepping up and doing unpopular things. >> but that's what -- >> can we do that in 2013? >> -- works. >> i know. is washington still capable of that? >> i predict that it will happen. i think you will have, just like we did then, you'll have people out here and out here that won't agree with that. but i think you'll have an operating majority to do something. i believe that will happen. >>> still ahead, we're joined by actor and director ben affleck and the emmy-winning star of "veep," julia louis-dreyfus. first,
because of the tax increase. i thought it was going to wreck the economy. it didn't wreck the economy. in '95 and '96, a lot of tough decisions by republicans, a lot of cuts that weren't popular with democrats as well as welfare reform. we heard all the horror stories. but you look at the tough decisions you guys made in '93 and '94, the tough decisions that we made sometimes that you agreed with and sometimes you didn't. taken together, those were three or four pretty dramatic years of...
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Dec 28, 2012
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tax on bottle water. one of the highest sales tax in the united states. increase in cigarette tax fell short of projected revenue because the tobacco store owners hoarded up the tax stamp before the increase went in effect. in chicago, mike tobin, fox news. >> doug: thank you, mike. how does one unapologize? that is later in grapevine. up next, look at politics behind russia move to ban american adoptions of russian orphans. . now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. >> doug: checking international news now. iran kicked off
tax on bottle water. one of the highest sales tax in the united states. increase in cigarette tax fell short of projected revenue because the tobacco store owners hoarded up the tax stamp before the increase went in effect. in chicago, mike tobin, fox news. >> doug: thank you, mike. how does one unapologize? that is later in grapevine. up next, look at politics behind russia move to ban american adoptions of russian orphans. . now, here's one that will make you feel alive. meet the...
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Dec 26, 2012
12/12
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, if they're going to vote to raise taxes or at least let tax rates expire on the upper end, they only want to do that once. that's not something they want to keep doing. certainly if speaker boehner puts something on the floor that his republican conference is not happy with, that's a risk that he's taking. >> has the president moved much on spending? because we talk all the time about the taxes but we seem to give a little less emphasis on the spending. is the president meaningful moving on that? >> depends on your definition of meaningfully. certainly there has been some movement from the white house over time on spending. i think there's been a movement toward talking about entitlements. when you talk about the cpi, consumer price index, that shift over there, that's a small concession to where republicans are but nobody's really talking about the big spending cuts that would have to be made to major entitlement programs to really alter the way that our budget course looks for the future, or to raise taxes in such a way as to pay for those programs as they are currently constituted
, if they're going to vote to raise taxes or at least let tax rates expire on the upper end, they only want to do that once. that's not something they want to keep doing. certainly if speaker boehner puts something on the floor that his republican conference is not happy with, that's a risk that he's taking. >> has the president moved much on spending? because we talk all the time about the taxes but we seem to give a little less emphasis on the spending. is the president meaningful...
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Dec 24, 2012
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no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the benefits a week after christmas. >> it is going to be a patch. because in four days we can't solve everything. >> yet, other republicans note the president short-term fix raises some taxes, yet punt spending cuts until next year. >> i would vote for revenue, including the tax rate hike though i don't like them to get, to save the country from becoming greece. i'm not going to set aside the $1.2 trillion in cuts. >> if the president does return to washington this week, unclear whether he will come back here to hawaii for new year's with his family. joe lieberman says he expects
no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the...
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Dec 27, 2012
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while the talking heads on tv go on about tax cuts for the rich and we get them, will we not get them, had is about spending and have to address spending now. >> when you read his moats, the -- outline that he sends to harry reid, he says the government is spending $100 billion more per month than what it brings in. i mean, it is really incredible. what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee business days, as you say before, the actual deadline itself, that's disconcerting. but -- again, it is not surprising. i don't think it has any -- will peak the negotiations at all, frankly. not at all. >> what about the secretary's use of this phrase -- the
while the talking heads on tv go on about tax cuts for the rich and we get them, will we not get them, had is about spending and have to address spending now. >> when you read his moats, the -- outline that he sends to harry reid, he says the government is spending $100 billion more per month than what it brings in. i mean, it is really incredible. what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the...
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self-imposed out costs from society i will contact myself am i going to tax my brother understand my contact immediately i'm going to leave basically attack the cops of my anger and my frustration. that. stuff well into the. two of the most violent gangs in u.s. history. is just all model kill or be killed with colors matching the national flag. but this country uses violence when it reaches and then it legitimizes the violence they all made in america on the odyssey. you know how sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom hartman welcome to the big picture. more news today violence is once again flared up. from these are the images the world has been seeing from the streets of canada. giant corporations are on the day . the mission of free accreditation free in-store charges.
self-imposed out costs from society i will contact myself am i going to tax my brother understand my contact immediately i'm going to leave basically attack the cops of my anger and my frustration. that. stuff well into the. two of the most violent gangs in u.s. history. is just all model kill or be killed with colors matching the national flag. but this country uses violence when it reaches and then it legitimizes the violence they all made in america on the odyssey. you know how sometimes you...
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Dec 28, 2012
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. >> it's been all about taxes. >> all about raising taxes. >> there's this obsession with raising taxes. >> it was to go after school lunches and elderly care, health care for poor kids and increased spending. >> no, no, no, they want entitlement reform, joy ann. why this obsession with cutting old people's medicare? >> it's not an obsession about cutting benefits to the elderly, joy ann. it's about reforming medicare over time so at some point in the future we don't tell an 80-year-old you know what? you're not going get the medicare cha you thought you would have. this is about not hurting the elderly. >> the republican solution is to hand 80-year-olds a voucher and saying good luck, go into the markets and see what you can get. >> 80-year-olds are not any part of it. they're 20, 30 years from now. the president's idea of spending cuts had to do with $700 billion worth of medicare cuts in the past two years ago. >> and paul ryan endorsed it. >> paul ryan endorsed it and that was in ryan's plan. thanks, guys. >> there was another surprise coming out of washington today. the unexpected
. >> it's been all about taxes. >> all about raising taxes. >> there's this obsession with raising taxes. >> it was to go after school lunches and elderly care, health care for poor kids and increased spending. >> no, no, no, they want entitlement reform, joy ann. why this obsession with cutting old people's medicare? >> it's not an obsession about cutting benefits to the elderly, joy ann. it's about reforming medicare over time so at some point in the future...
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Dec 26, 2012
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, maybe even higher corporate taxes, lower government spending. i mean, that in and of itself is an austerity plan that we're waiting for, isn't it? >> i don't think it's necessarily austerity. the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in wealth very quickly if we get the economy back to where it should be. >> there's a very good article on cnbc.com about the possibility that congress might decide to start tax is employer-sponsored health insurance. do you think that's a possibility, and what impact would that have on you? >> everything needs to be on the table. if we're going to have a good solution that gets at o
, maybe even higher corporate taxes, lower government spending. i mean, that in and of itself is an austerity plan that we're waiting for, isn't it? >> i don't think it's necessarily austerity. the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more...
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Dec 28, 2012
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care tax. the occupy movement will not return with the same strength but talk of fat cats and pluto krats in the media will reduce conspicuous consumption. the rich will put less in u.s. stocks and more towards hard assets. real estate and high end collectibles. it will be funded by the overseas rich with some homes selling for more than $100 million. luxury spending will remain weak largely because of weakness in china. bright spots will be high end luxury like lbmh and experiences like travel and entertainment. wealth will become quieter. call it stealth wealth. the big spending and big luxuries will be behind closed doors and kitchens like this could become the new status symbol. >>> now that robert has given us his pricey predictions, we would like to provide you with what we think are some promising predictions for 2013. >> all right. we're laying them out. let's take a look at what we've got, all right? to kick start the predictions, mandy. i've got a hunch that the dow will hit a record
care tax. the occupy movement will not return with the same strength but talk of fat cats and pluto krats in the media will reduce conspicuous consumption. the rich will put less in u.s. stocks and more towards hard assets. real estate and high end collectibles. it will be funded by the overseas rich with some homes selling for more than $100 million. luxury spending will remain weak largely because of weakness in china. bright spots will be high end luxury like lbmh and experiences like travel...
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Dec 26, 2012
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the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here. >> hey, ari. >> remind us where we were before plan b, how far apart were the last comprehensive offers between the president and negotiators? >> a few hundred billion dollars, which is a lot of money, sounds like a lot of money, but in the context of a ten-year budget deal when you have some very large programs that can be tweaked one way or another, is not that much. they were within shouting distance if the speaker could bring his caucus along to support the deal that he was promoting and getting close to striking with the president, but it's clear
the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here....
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Dec 28, 2012
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it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican minority leader mitch mcconnell offered their takes on the meeting. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader, myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> whate
it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants...
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Dec 24, 2012
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he's turned in prison on trumped up tax charges twice, but he raises the sprawling brood of chuck irish kids. terence hallinan who miss in this neighborhood, brother patrick, lawyers themselves and of course da of san francisco. the only da, by the way, who was given a hot fix for janis joplin of hair heroin and latest bid to become da of san francisco. so this is a book that really told it self i have to say. these stories and characters are truly larger than life. >> just after that, make japan yen and brian rohan worked in hallinan's office and they were the guys who started halo, he had ran out of the dads front hollar, a victorian house. they were providing legal services to other kids that got bested in the neighborhood. >> is true. since hallinan was the godfather for whole new generation to brian and michael and also tony sir who went on to defend among other things the critters commune with their subject it to one police raid after the next. [inaudible] [inaudible] >> that is a good testament to tony. by the way, but as michael giguere is, just about, another great tier of san
he's turned in prison on trumped up tax charges twice, but he raises the sprawling brood of chuck irish kids. terence hallinan who miss in this neighborhood, brother patrick, lawyers themselves and of course da of san francisco. the only da, by the way, who was given a hot fix for janis joplin of hair heroin and latest bid to become da of san francisco. so this is a book that really told it self i have to say. these stories and characters are truly larger than life. >> just after that,...
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Dec 28, 2012
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the whole conversation has been about tax hikes. i mean, you can't -- you're talking about how many tax hikes and who is going to be involved, but we really need to address the spending issue. >> dan greenhouse, do you agree? >> more or less. i'll take issue with what mandy just said about cutting austerity. we know there's going to be a fiscal contraction next year. nothing in what these guys agree upon will add to the level of austerity. the types of things that we're talking about, adjusting the cpi used to compute social security benefits down the road, those types of things are not real austerity, and so we really shouldn't be worried about that in terms of 2013. >> so you see growth, dan? you see the stock market moving up? you see a year that will still be positive for us in all of those respects, even if we do have, for example, massive spending cuts and tax hikes, that's what you're seeing? >> i take issue with the word massive, and i'm sure rick will as well. we think next year will be okay in of everything, but, again, to
the whole conversation has been about tax hikes. i mean, you can't -- you're talking about how many tax hikes and who is going to be involved, but we really need to address the spending issue. >> dan greenhouse, do you agree? >> more or less. i'll take issue with what mandy just said about cutting austerity. we know there's going to be a fiscal contraction next year. nothing in what these guys agree upon will add to the level of austerity. the types of things that we're talking...
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Dec 28, 2012
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it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican minority leader mitch mcconnell offered their takes on the meeting. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> whateve
it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants...
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Dec 26, 2012
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does happen, and on top of that you have state tax increases as well. you add all of that up, if you're at the higher end you'll be cutting back some because somebody's got to give. >> you're saying the luxury retailers are the ones that we need to watch, those are the stocks that might take the biggest hit in this whole thing? >> again, it's a company-to-company thing. if you have a big business servicing tourists and tourists are doing well from asia and the arab world, maybe you'll be okay. but if you have a generalized -- yeah, i think the high end is going to be pressed and as you saw this holiday season, it appears that those people offering value did somewhat better. those people are selling consumable products did better than those selling durable products in general. >> what are your best picks? you're managing this fund. where would you put your money? the phone thing is, you know, i mention all of these stocks that are down whether it's macy's, the gap, walmart, abercrombie and others, your topics don't mention any of those. shine some light
does happen, and on top of that you have state tax increases as well. you add all of that up, if you're at the higher end you'll be cutting back some because somebody's got to give. >> you're saying the luxury retailers are the ones that we need to watch, those are the stocks that might take the biggest hit in this whole thing? >> again, it's a company-to-company thing. if you have a big business servicing tourists and tourists are doing well from asia and the arab world, maybe...
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Dec 27, 2012
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because then obama gets the tax increase that he wanted, right? the republicans aren't seen by their constituency of giving into the tax increase and then they start from there, anew, and you can bring it down to the middle class tax cut. so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal cliff. in other words, the recession their forces in the cliff, so, you picture two, like a sea change. the relief rally where it's going to happen, when we get a deal. then you have the recession their forces of the cliff right after that, so, you can see those two forces. i've been looking -- >> stocks can trade up during a recession. not when you're going into it. as you see going out of it. >> but it's still $130 billion of new taxes that are hitting the economy. maybe 150. i'm looking at two-month vices future versus the eight-month and i've been tracking it. trac
because then obama gets the tax increase that he wanted, right? the republicans aren't seen by their constituency of giving into the tax increase and then they start from there, anew, and you can bring it down to the middle class tax cut. so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal...
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Dec 27, 2012
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we get to january and dems come in with a proposal to cut taxes on people making below half a million dollars. everyone has to vote that through. that will be bullish for the market. these are the type of things to think about. >> are you shopping around for what you think are bargains on the market? >> we closed our books a couple days ago. this is not my type of administrati atmosphere. i called it garbage-time on the web. any trading now in size probably has to. for most, it's a better bet to allow the higher beta stocks to move and sit tight. >> we're sticking with our long positions as we discussed. we're really taking up our shorts. the reason being, it looks as if we're going over the cliff. i don't think any thinks it's a long term problem. when the resolution comes, like doc said you will get a rally. we are sticking with long runs and picked up vix and s&p shorts and increased short positions against every one of our longs and will be there when the market rallies but protected for right now. >> you paid a little more than you would have a few days ago. the vix fear gauge ha
we get to january and dems come in with a proposal to cut taxes on people making below half a million dollars. everyone has to vote that through. that will be bullish for the market. these are the type of things to think about. >> are you shopping around for what you think are bargains on the market? >> we closed our books a couple days ago. this is not my type of administrati atmosphere. i called it garbage-time on the web. any trading now in size probably has to. for most, it's a...
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Dec 29, 2012
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from the alternative minimum tax. it is all very urgent stuff that needs to be done. there are only two even remotely controversial pieces of this, what to do with the estate tax and where or how to define the wealthy people whose taxes are going to go up. the rest of it is basically protecting people from tax hikes, extending unemployment benefits for some time is controversial for republicans, but it appears to have a great they would do that if -- it appears that they have agreed. it can be relatively easily if they can reach agreement on what to do about taxes for the rich. >> in your article in the "washington post," this morning, you quote majority harry reid who says, whatever we come up with is going to be imperfect. he said on the floor before dozens of silent and a tentative senators, we're going to do the best we can for the country. it seems like he ihas made his decision. what is it going to take to get the rest of the folks to go along with him? >> we will not really know that until tomorrow. one of the
from the alternative minimum tax. it is all very urgent stuff that needs to be done. there are only two even remotely controversial pieces of this, what to do with the estate tax and where or how to define the wealthy people whose taxes are going to go up. the rest of it is basically protecting people from tax hikes, extending unemployment benefits for some time is controversial for republicans, but it appears to have a great they would do that if -- it appears that they have agreed. it can be...
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Dec 25, 2012
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he has turned jack kennedy's bills, civil-rights bill, tax cut bill, at least started all of them on the road to passage and january 8th is also the day of lyndon johnson's first state of the union speech. the speech in which he makes the presidency his own. with his announcement that america is going to have a war on poverty. if we don't know the man guido, not well enough known in history are wonderful. too many americans live on the outskirts of hope and that is his quote. that is who we have to help. the more detail you learn about how johnson did it, about what he did with congress and what he did to congress, the more amazing accomplishment seems. the civil-rights bill is dead -- if there was only one leader lyndon johnson is going to grab it. if there was one leader he was going to put all his weight behind it. all of a sudden the new york times writes something changed on capitol hill yesterday and the civil-rights bill starts to move. during this brief transition period, what i call "the passage of power" lyndon johnson not only rescued his predecessor's programs but launche
he has turned jack kennedy's bills, civil-rights bill, tax cut bill, at least started all of them on the road to passage and january 8th is also the day of lyndon johnson's first state of the union speech. the speech in which he makes the presidency his own. with his announcement that america is going to have a war on poverty. if we don't know the man guido, not well enough known in history are wonderful. too many americans live on the outskirts of hope and that is his quote. that is who we...
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Dec 29, 2012
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you know, only half the people in the country paid taxes. every one of those people pay taxes. they would not have been there. that relieves the burden on all the other taxpayers. the government job burdens the other taxpayers. to me, that kind of struck me as something as a significant personal accomplishment. i never realized or even thought about that until after i retired. ok, let me find the clicker and we will get going. let's try the button. ok. we are going to talk about manned space flight. the first flight we are going to talk about is that wonderful first nine years, at eight years really. this chart shows every one of the launch systems developed in the world during that short time. there are nine launch systems designed and flown during that time. vostok, the red stone, the atlas, the x-15, then gemini, the titan system, the russian soyuz. somebody told me they could not lift it, but if it was in the gas, it could lift it. that is probably not true. [laughter] interesting thing -- seven of these nine were done by nasa. and every one of the seven were flown without
you know, only half the people in the country paid taxes. every one of those people pay taxes. they would not have been there. that relieves the burden on all the other taxpayers. the government job burdens the other taxpayers. to me, that kind of struck me as something as a significant personal accomplishment. i never realized or even thought about that until after i retired. ok, let me find the clicker and we will get going. let's try the button. ok. we are going to talk about manned space...
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Dec 28, 2012
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tax code and if they bring it back they're getting whacked with tax code. we need friendly tax environment for corporations to spend the $1.2 trillion they're sitting on. gregg: if we go over the cliff that is not tax friendly. matt mccall, president of pns financial group. good to see you, matt. heather: we're seeing a bright spot in the u.s. economy. qord according to national association of realtors sales of new home were highest since april of 2010. a homebuyer tax credit caused then a spike in sales. it measures the number of americans who signed contracts to buy homes. the report also points to higher sales of previously occupied homes in the coming months. gregg: former president george h.w. bush remains in a houston hospital where he continues to recover from a persistent fever and a cough. a family spokesman just giving us some, a new details, an update on his condition. mike tobin is live outside methodist hospital with the latest. mike? >> reporter: the latest, gregg, the latest release we got included the phrase, continues to improve in relation
tax code and if they bring it back they're getting whacked with tax code. we need friendly tax environment for corporations to spend the $1.2 trillion they're sitting on. gregg: if we go over the cliff that is not tax friendly. matt mccall, president of pns financial group. good to see you, matt. heather: we're seeing a bright spot in the u.s. economy. qord according to national association of realtors sales of new home were highest since april of 2010. a homebuyer tax credit caused then a...
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Dec 26, 2012
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there are income tax rates currently at 35% tax rate. what about people who are paying a rate of 15%? -- how about the unearned where people are paying a rate of 15%? there was a wealthy person who told me several weeks ago, people in my category are not worried about the earned income tax rate. most of our income is not earned. yeah, exactly right. that is why we should not lose focus of the unearned income tax rate. there is a differential between -- there is a 20% differential between unearned and earned income. why are we penalizing work? a person who works for the money pays a higher effective rate than somebody who doesn't. i know paris hilton is adding a lot to our society. i'm sure she is. but somebody who is just living off an inheritance, they are paying a rate of 15% and somebody that is paying a rate of 15% and works hard and is productive is paying a rate of 35%, honestly, i do not see any justification for that. >> sir? mic. >> i wanted to ask you if there is some negative effect from these policies. what would you think ab
there are income tax rates currently at 35% tax rate. what about people who are paying a rate of 15%? -- how about the unearned where people are paying a rate of 15%? there was a wealthy person who told me several weeks ago, people in my category are not worried about the earned income tax rate. most of our income is not earned. yeah, exactly right. that is why we should not lose focus of the unearned income tax rate. there is a differential between -- there is a 20% differential between...
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Dec 26, 2012
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our taxes. i am a republican and a bit less than $15,000 a year. i will pick up a beer can or a beer bottle when i am going down the street. most definitely. i have to collect them some days just to get by. as far as kicking the can of the road, i believe -- i do not believe in that. i think republicans have to face the fact that the conservatives always believe in a balanced budget. they always do. they have to scale down the monstrosity of a government they have. host: a reminder to all of our callers, please keep the sound of doubt on your tv set at home. -- keep the sound down on your tv set at home. here is a short piece from the interview on why the senator is leaving office. [video clip] >> many reasons. i have served here 20 years. less than 5 percent have serve that long. some of it is i am tired of living out of a suitcase. i miss 80% of my wife's birthdays and anniversaries. and i thought, it is time for somebody else to take this on. sometimes change is a good thing. after 26 years,
our taxes. i am a republican and a bit less than $15,000 a year. i will pick up a beer can or a beer bottle when i am going down the street. most definitely. i have to collect them some days just to get by. as far as kicking the can of the road, i believe -- i do not believe in that. i think republicans have to face the fact that the conservatives always believe in a balanced budget. they always do. they have to scale down the monstrosity of a government they have. host: a reminder to all of...